Nation: What It Will Cost the U.S.

It was supposed to be the price rise that would somehow stabilize the
chaotically climbing cost of petroleum on world markets. So much for
wishful thinking. Instead of a single, stable price for crude, the
13-nation Organization of Petroleum Exporting Countries last week gave
the oil-thirsting world its worst petro-gouging in more than five
years. Rich and poor alike, the oil-importing nations are still
struggling to recover from the recession that followed OPEC's huge
price rises of 1973 and 1974. The latest assault, which is expected to...